{"id":1004036385,"date":"2012-02-09T04:21:56","date_gmt":"2012-02-09T12:21:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004036385"},"modified":"2022-12-06T02:14:22","modified_gmt":"2022-12-06T10:14:22","slug":"blackstone-takes-3-5-msf-of-u-k-industrial-from-prologis","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-takes-3-5-msf-of-u-k-industrial-from-prologis\/","title":{"rendered":"Blackstone Takes 3.5 MSF of U.K. Industrial from Prologis"},"content":{"rendered":"

February 9, 2012<\/strong>
\nBy Nicholas Ziegler, News Editor<\/em><\/p>\n

Blackstone is no stranger to huge deals, and its latest transaction makes it the owner of 3.5 million square feet of industrial property in the United Kingdom. Prologis Inc. sold the 13-property portfolio for an aggregate $335 million.<\/p>\n

“We were pleased with the amount of interest this portfolio garnered as the combination of quality assets and lease term appealed to multiple investors,” Philip Dunne, president of Prologis Europe, said. “We have sold this portfolio as it no longer fit within our investment strategy, and offered us the ability to redeploy our capital.”<\/p>\n

The portfolio comprises 13 properties located in England’s Midlands and Yorkshire. The properties are 100 percent leased with an average unexpired lease term that exceeds nine years.<\/p>\n

Blackstone has been picking up large parcels of property in multiple sectors of late. In early January, the firm — in a partnership with DDR Corp. — spent $1.4 billion on a 47-property retail portfolio across 20 states. In December, Blackstone purchased 36 shopping centers from Equity One Inc. for $473 million, including the assumption of $177.4 million in debt. In October of last year, the firm purchased $1.1 billion of office assets from Duke Realty Corp., netting it 10.1 million square feet of property across 82 buildings.<\/p>\n

The U.K. industrial market is similar to its Stateside counterpart, ending the year on a mixed note as events in Europe threaten to erode the confidence that rose toward the end of 2011. According to a fourth-quarter report by services firm Cushman & Wakefield Inc., manufacturing surveys at year\u2019s end pointed to improved performance in December, but the strong showing didn\u2019t erase the weaker outturns for October and November \u2013 when many producers reported their worst quarters since the middle of 2009.<\/p>\n","protected":false},"excerpt":{"rendered":"

Blackstone is no stranger to huge deals, and its latest transaction makes it the owner of 3.5 million square feet of industrial space in the United Kingdom after making a $335 million, 13-property purchase from Prologis.<\/p>\n","protected":false},"author":1201,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,21748,16,21783,21742,21785],"tags":[],"class_list":["post-1004036385","post","type-post","status-publish","format-standard","hentry","category-corporate-real-estate","category-industrial","category-international","category-investment","category-latest","category-property-management"],"acf":[],"yoast_head":"\nBlackstone Takes 3.5 MSF of U.K. Industrial from Prologis - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-takes-3-5-msf-of-u-k-industrial-from-prologis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone Takes 3.5 MSF of U.K. Industrial from Prologis\" \/>\n<meta property=\"og:description\" content=\"Blackstone is no stranger to huge deals, and its latest transaction makes it the owner of 3.5 million square feet of industrial space in the United Kingdom after making a $335 million, 13-property purchase from Prologis.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/blackstone-takes-3-5-msf-of-u-k-industrial-from-prologis\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-02-09T12:21:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T10:14:22+00:00\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-takes-3-5-msf-of-u-k-industrial-from-prologis\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-takes-3-5-msf-of-u-k-industrial-from-prologis\\\/\"},\"author\":{\"name\":\"Nicholas Ziegler\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"headline\":\"Blackstone Takes 3.5 MSF of U.K. Industrial from Prologis\",\"datePublished\":\"2012-02-09T12:21:56+00:00\",\"dateModified\":\"2022-12-06T10:14:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-takes-3-5-msf-of-u-k-industrial-from-prologis\\\/\"},\"wordCount\":293,\"commentCount\":0,\"articleSection\":[\"Corporate Real Estate\",\"Industrial\",\"International\",\"Investment\",\"News\",\"Property Management\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-takes-3-5-msf-of-u-k-industrial-from-prologis\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-takes-3-5-msf-of-u-k-industrial-from-prologis\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/blackstone-takes-3-5-msf-of-u-k-industrial-from-prologis\\\/\",\"name\":\"Blackstone Takes 3.5 MSF of U.K. Industrial from Prologis - 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